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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Option Activity

A summary of stock option activity for the three months ended March 31, 2022 is as follows:

 

 

Number of

Shares

 

 

Weighted

Average Exercise

Price Per Share

 

 

Weighted

Average

Remaining

Contractual

Term in Years

 

Outstanding at December 31, 2021

 

 

2,413,194

 

 

$

7.04

 

 

 

9.06

 

Granted

 

 

1,155,570

 

 

$

2.35

 

 

 

 

 

Cancelled/forfeited/expired

 

 

(365,250

)

 

$

6.44

 

 

 

 

 

Outstanding at March 31, 2022

 

 

3,203,514

 

 

$

5.50

 

 

 

7.80

 

Vested and unvested expected to vest, March 31, 2022

 

 

3,162,485

 

 

$

5.52

 

 

 

7.78

 

 

Assumptions Used for Determining Fair Value of Stock Options Under Black-Scholes Pricing Model

The assumptions used in the Black-Scholes pricing model for stock options granted during the three months ended March 31, 2022 were as follows:

 

 

2022

 

Stock and exercise prices

 

$2.32 - $2.39

 

Expected dividend yield

 

0.00%

 

Discount rate-bond equivalent yield

 

1.76% - 2.41%

 

Expected life (in years)

 

5.55 - 6.03

 

Expected volatility

 

161% - 163%

 

 

Effects of Stock-Based Compensation Related to Equity Awards to Employees and Nonemployees on Condensed Statement of Operations and Comprehensive Loss

The following table presents the effects of stock-based compensation related to equity awards to employees and nonemployees on the unaudited condensed statements of operations and comprehensive loss during the periods presented:

 

 

 

For the Three Months Ended March 31,

 

 

 

2021

 

 

2022

 

Stock Options

 

 

 

 

 

 

 

 

Cost of revenues

 

$

94

 

 

$

208

 

Research and development expenses

 

 

44

 

 

 

166

 

General and administrative expenses

 

 

260

 

 

 

1,802

 

Sales and marketing expenses

 

 

62

 

 

 

141

 

Total expenses related to stock options

 

 

460

 

 

 

2,317